1999-02-01-R - Laserfiche WebLink

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4. LESSEE DISCLAIMER OF TITLE. It is expressly understood that this is a contract of leasing only and that Lessee by these presents acquires no ownership, title or property rights or interest in or to the property described in this Lease. 5. LOCATION OF LEASED PROPERTY. Lessee agrees that the Leased Property will be located at the address reflected above and that no removal of the Leased Property shall occur without the written prior permission of Lessor, which shall not be unreasonably withheld. Lessee agrees that the Leased Property will not become permanently affixed to the premises where it is to be located. The Leased Property is to be used in Lessee's business and shall remain personal property regardless of the manner in which it is affixed to realty. 6. TAXES. Unless otherwise specifically agreed to in writing, all personal property taxes, excise taxes, use taxes and other taxes levied on the Leased Property (whether same be assessed to Lessor or Lessee) by any governmental authority shall be paid by the Lessee, and the obligation of the Lessee to pay such taxes shall remain in force until the appropriate statute of limitation has concluded the tax liability of Lessor and Lessee, provided, however, the tax obligation of the Lessee shall not include city, state or federal taxes levied on the income of the Lessor. 7. LABELING AND TITLE OF LEASED PROPERTY. Lessor shall at all times retain title to the Leased Property. Lessee agrees that he will, upon request of Lessor, affix to the Leased Property in a prominent place, labels, plates or other marking supplied by Lessor stating that the Leased Property is owned by the Lessor. Lessor is hereby authorized by Lessee at Lessee's expense to cause this Lease or any statement or other instrument in respect of this Lease showing the interest of Lessor in the Leased Property to be filed or recorded and Lessee agrees to execute and deliver any statement or instrument requested by Lessor for such purpose. In order to reflect Lessor's security interest constituting a first lien on the Equipment, Lessee agrees to execute such additional documents, including financing statements, affidavits, notices and similar instruments, in form satisfactory to Lessor, which Lessor deems necessary or OL appropriate to establish and maintain its security interest, and upon assignment, the security interest of any assignees of Lessor, in the Equipment. 8. SECURITY INTEREST, RISK OF LOSS, MAINTENANCE AND USE . Lessee assumes the entire risk of loss or damage to the Leased Property during the term of this Lease and agrees to maintain it in good condition, repair and appearance, in accordance with the terms and conditions of all insurance policies pertaining thereto, customary trade practices, and operation and maintenance instruction manuals of the manufacturer, and to protect it from deterioration other than normal wear and tear. Lessee agrees to use the Leased Property in the regular course of its business within its normal capacity, without abuse, and in a manner contemplated by the manufacturer or supplier, and shall not make any modification, alteration or addition to the Leased Property without prior written approval of Lessor. If alterations are performed on the Leased Property, the property with all additions shall be subject to the provisions of this Lease. Lessee grants Lessor the right to inspect the Leased Property at any reasonable time within regular business hours. 9. INSURANCE. (a) lessee shall at all times during the term of this Lease keep the Leased Property insured against all risk of loss or damage from any cause whatsoever for not less than the full replacement value thereof as determined by Lessor, and Lessee shall carry public liability, product liability and property damage insurance satisfactory to Lessor covering the Leased Property. Lessor and Lessee shall be named as insured parties in the policy and any losses payable under such policy shall be payable to Lessor and Lessee as their interest may appear, and such insurance policy shall be with a responsible insurance company acceptable to the Lessor. It is further agreed that such policy will include a provision for thirty days notice of cancellation or intent not to renew to Lessor. (b) The proceeds of such insurance, at the option of Lessor shall be applied (i) toward the replacement, restoration or repair of the Leased Property or (ii) toward payment of the obligations of Lessee hereunder, or (iii) as provided in the Schedules "A" pertaining to the "Leased Property". Lessee hereby appoints Lessor as Lessee's attorney-in-fact to make claim for, receive payment of, and execute and endorse all documents, checks or drafts for loss or damage under any insurance policy. 2